Surveying the acronyms, slogans and victim names that serve as titles for measures introduced in Congress and other legislative bodies, some of which may graduate to the U.S. Code and other statute books.

Monday, February 10, 2014

Financial Freedom and Washington Accountability...you don't say!

Rep. Sean Duffy (R., WI) recently introduced H.R. 3193, the Consumer Financial Freedom and Washington Accountability Act, which seeks to increase review of any regulation passed by the Consumer Financial Protection Bureau. The Obama Administration today provided a strong statement against the measure, saying that it would "undermine critical Wall Street reforms and weaken important consumer protections, potentially exposing the Nation's economy to systemic risks similar to those that led to the 2008 financial crisis."Of note: it appears that the name of the measure was recently changed. When introduced the measure was known as the Consumer Financial Protection Safety and Soundness Improvement Act of 2013. This is still the way that it's represented on many official sites, such as Congress.gov. However, a Feb. 4 copy of the bill and a recently CBO memo note the new name of the bill. A name change such as this is very common in Congress, and especially as bills are traveling through the legislative process and looking to gain some traction.